News & Analysis

Telstra Ventures participates in US$41 million Series D round for cloud security startup vArmour

- May 26, 2016 2 MIN READ

Telstra has participated in a US$41 million Series D funding round for Silicon Valley startup vArmour, a data centre and cloud security company that has rolled out its system to banks, telcos, government agencies, and retailers around the world.

The round, led by Redline Capital with participation from Telstra Ventures and a number of other strategic investors, brings the total raised by the startup to US$83 million. The telco did not disclose the size of its investment.

The investment comes as part of a strategic partnership for Telstra with Mark Sherman, managing director at Telstra Ventures, saying in a statement, “The move to multi-cloud requires a completely different approach to security. We are very excited to be investing in vArmour, as we believe they sit at the forefront of this rapidly growing market.

“With vArmour’s distributed security system that delivers massive scale, coverage and control that agent or traditional perimeter-based solutions cannot support, the company is in a great position to help customers realize the full potential of multi-clouds.”

Telstra will add vArmour’s security solutions to its portfolio of enterprise services, and help develop security consulting and managed services for its customers in the longer term.

Tim Eades, CEO of vArmour, said the startup is “solving real problems for real people.”

“We have proven that our product and model are extremely effective, cost efficient and scalable, and this new round of funding and investment from global distribution partners will propel company growth,” he said.

This week is turning out to be a busy one for Telstra, with the company today announcing that it has been awarded a five year contract by the Department of Health to deliver and operate the Australian National Cancer Screening Register, a database that will look to help track cancer screening across the country.

Cynthia Whelan, Group Executive International and New Businesses, said the contract demonstrates the company’s growing capabilities to deliver technology for the health sector. Telstra also operates a telemedicine service, connecting patients with doctors online.

Telstra stated that the database will manage cancer screening for more than 11 million Australians, integrating and extending the existing national bowel cancer register and the eight separate state and territory-based cervical cancer registers.

Telstra Health will also link a number of government agencies, including My Health Record and Medicare, as well as private health providers.

Whelan explained, “We want to make healthcare easier through the use of technology. Cancer screening saves lives but it can be hard for people to remember when their screens are due, meaning they often don’t start or keep up with regular screening.”

Image: Tim Eades.